Morais, Bernardo; Peydró, José-Luis; Ruiz, Claudia - 2015
effects, with substantially larger elasticities from monetary rates than quantitative easing. Moreover, low foreign monetary … policy rates and expansive quantitative easing increase disproportionally more the supply of credit to borrowers with higher … international risk-taking channel of monetary policy. All in all, the results suggest that foreign quantitative easing increases …